Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 02727)
VOLUNTARY ANNOUNCEMENT IN RELATION
TO THE REPURCHASE OF H SHARES
Reference is made to the circular of Shanghai Electric Group Company Limited (the "Company") dated 12 June 2020 and the announcement of the Company dated 29 June 2020.
The Company convened the annual general meeting, the class meeting for holders of H shares of the Company (the "H Shares") and the class meeting for holders of A shares of the Company (the "A Shares") on 29 June 2020, and granted a general mandate (the "Repurchase Mandate") to the board (the "Board") of directors (the "Directors") of the Company to determine the repurchase of H Shares not exceeding 10% of the aggregate nominal value of H Shares in issue at the time when the relevant resolution was passed. On the same day, the Board resolved to invest a total of no more than RMB100 million or the equivalent of Hong Kong dollars for the repurchase of no more than 50,000,000 H Shares in aggregate in a timely manner within the relevant authorisation period under the Repurchase Mandate.
Upon the aforementioned authorisation being obtained, the Company had further notified its creditors, details of which were set out in the A Share announcement of the Company dated 29 June 2020. On 10 September 2020, the Company exercised its power under the general mandate to repurchase 16,348,000 H Shares on the The Stock Exchange of Hong Kong Limited at the range of highest and lowest prices of HK$2.32 and HK$2.20 per Share, respectively (the "Share Repurchase"). The aggregate purchase price paid for the Share Repurchase was HK$37,330,980.00. The H Shares under the Share Repurchase represent approximately 0.55% of the number of issued H Shares of the Company, and approximately 0.11% of the total number of issued shares of the Company immediately prior to the Share Repurchase.